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Author Topic: (Off Topic, Srry RON!) Commercial Mortgage Question  (Read 1532 times)
Eyeball Chambers
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« on: February 28, 2010, 09:13:20 AM »

With $100,000 down on a $800,000 commercial building, what would the monthly mortgage payment be?
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newmom
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« Reply #1 on: February 28, 2010, 09:15:10 AM »

eyeball, I'd shop for mortgage rates..have you or the person looking for the mortgage been pre approved yet
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Eyeball Chambers
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Would you hold still? You're making me fuck up...


« Reply #2 on: February 28, 2010, 09:19:47 AM »

eyeball, I'd shop for mortgage rates..have you or the person looking for the mortgage been pre approved yet

No, but the person that would be making the purchase has a lot of money and property so I don't think that will be a problem.  I was just doing some basic figures to see how much they'll make monthly.
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newmom
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« Reply #3 on: February 28, 2010, 09:21:09 AM »

No, but the person that would be making the purchase has a lot of money and property so I don't think that will be a problem.  I was just doing some basic figures to see how much they'll make monthly.

then here comes a dumb question, why dont they put more money down
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Eyeball Chambers
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Would you hold still? You're making me fuck up...


« Reply #4 on: February 28, 2010, 09:24:44 AM »

then here comes a dumb question, why dont they put more money down

I don't know, I thought $100k was about right?  Huh

I'm just a getbig twink with no money driving a rusted out 1965 Austin Mini.  How should I know anything.  Smiley
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newmom
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« Reply #5 on: February 28, 2010, 09:28:38 AM »

I don't know, I thought $100k was about right?  Huh

I'm just a getbig twink with no money driving a rusted out 1965 Austin Mini.  How should I know anything.  Smiley

lmao, but your a cool twink if that matters
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Eyeball Chambers
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Would you hold still? You're making me fuck up...


« Reply #6 on: February 28, 2010, 09:29:22 AM »

lmao, but your a cool twink if that matters

Thank you, I don't really drive a rusted out mini cooper.  Grin

That would be funny though...



Pulling up to the getbig banquet, my broken down Mini being towed behind Alex23's Hummer...
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calfzilla
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Welcome back halo, son of getbig.


« Reply #7 on: February 28, 2010, 10:06:22 AM »

go to bankrate.com they have great mortgage calculators. 
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Eyeball Chambers
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« Reply #8 on: February 28, 2010, 10:10:07 AM »

go to bankrate.com they have great mortgage calculators. 

thanks!
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liberty
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« Reply #9 on: February 28, 2010, 10:40:00 AM »

At 5 % for 30 years on 700,000
Its $3757.00  a month
Total payback is 1,352,790.00

Not sure what taxes and insurance would be on top of that......
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Eyeball Chambers
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Would you hold still? You're making me fuck up...


« Reply #10 on: February 28, 2010, 10:42:03 AM »

At 5 % for 30 years on 700,000
Its $3757.00  a month
Total payback is 1,352,790.00

Not sure what taxes and insurance would be on top of that......

Thank you sir!
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MJK
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« Reply #11 on: February 28, 2010, 10:42:17 AM »

At 5 % for 30 years on 700,000
Its $3757.00  a month
Total payback is 1,352,790.00

Not sure what taxes and insurance would be on top of that......
Banks are f'in theives
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Migs
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« Reply #12 on: March 03, 2010, 08:25:07 PM »

It depends on the rate he/she gets, as well as the term.  Also if they are buying any points toward the loan and if any costs are getting rolled into the amount. 
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Eyeball Chambers
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Would you hold still? You're making me fuck up...


« Reply #13 on: March 03, 2010, 08:38:55 PM »

It depends on the rate he/she gets, as well as the term.  Also if they are buying any points toward the loan and if any costs are getting rolled into the amount. 

I learned a thing or two about this in class the other day.  Cool
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Migs
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« Reply #14 on: March 03, 2010, 09:00:53 PM »

i'm sure you did young paduan, lol.  commercial RE can be profitable, but is generally a pain in the butt.  Long time to negotiate deals and more involved processes.  I need to find some folks that can buy/sell.  I need to buy some shoes lol.
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calfzilla
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Welcome back halo, son of getbig.


« Reply #15 on: March 04, 2010, 01:08:24 AM »

Usually points are not worth it, in some instances they are. 
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